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Sensex Ends Higher, Border Tensions Limit Gains

Sunil Fernandes

Benchmark indices ended the day higher, significantly underperforming global markets, as border tensions between China and India reduced gains.

The Sensex, which had one stage crossed the 34,000 points mark, ended the day at 33,614 points, with gains of 384 points.

The Nifty on the other hand ended the day with gains of 100 points. Global markets were seeing solid gains with the Japanese Nikkei ending the day higher by almost 5 per cent, while most of the European indices were up almost 3 per cent in trade.

Reports that a Commanding Officer of the Indian Army and two soldiers were killed in Galwan Valley in eastern Ladakh on Monday night during a violent faceoff with the Chinese troops, limited the gains.

Banking stocks led gainers with HDFC Bank, HDFC and ICICI Bank among the top gainers from the Nifty. Among the stocks that lost ground was Tata Motors, whose huge losses disappointed the street. It was the top loser from among the Nifty stocks.

Other Nifty stocks that lost ground were GAIL and Bharti Infratel. Shilpa Medicare saw its stock decline by almost 6 per cent, after the company announced that it would make two acquisitions. Shares in IPCA ended the day flat after net profit was down 12.8% to Rs 86 crores for the quarter ending March, 31, 2020.

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